AREN vs LBTYB: Correlation
Measured on weekly returns over the past three years, The Arena Group Holdings, Inc. (AREN) and Liberty Global Ltd. - Class B (LBTYB) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AREN and LBTYB?
On 3 years of weekly data the AREN/LBTYB correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.01) runs above the 3-year figure (-0.26). The 5-year figure is -0.23, and annualized covariance runs at -2381.7 %².
LBTYB is close to the least connected end of AREN's tracked universe, ranking #20 of 22. Their recent paths diverged sharply: over the last 12 months LBTYB outperformed by 95.3 percentage points (-84.8% for AREN against +10.5% for LBTYB). Note the risk asymmetry: AREN runs 2.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AREN vs LBTYB: side by side
| AREN (The Arena Group Holdings, Inc.) | LBTYB (Liberty Global Ltd. - Class B) | |
|---|---|---|
| 1-year return | -84.8% | +10.5% |
| 5-year return | -93.0% | -55.0% |
| Volatility (ann.) | 157.6% | 57.5% |
| Beta vs S&P 500 | 0.49 | 0.32 |
| Max drawdown (3Y) | -91.7% | -58.2% |
| Market cap | – | $4.4B |
| P/E (trailing) | 4.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AREN | LBTYB |
|---|---|---|
| 2022 | -24.6% | -32.5% |
| 2023 | -77.6% | -6.3% |
| 2024 | -43.7% | -27.3% |
| 2025 | +198.5% | -8.7% |
| 2026 | -76.5% | +9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AREN and LBTYB good diversifiers for each other?
Yes. With a correlation of -0.26, AREN and LBTYB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AREN and LBTYB?
As of 2026-08-27, the correlation of weekly returns between AREN and LBTYB is -0.26 over 3 years, 0.01 over 1 year and -0.23 over 5 years.
Is LBTYB a good diversifier for AREN?
Yes. With a correlation of -0.26, AREN and LBTYB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: AREN correlations · LBTYB correlations
